Question - Flounder Company at December 31, 2017, the end of its first year of operations.
Sales revenue $282,670
Cost of goods sold 147,300
Selling and administrative expenses 49,900
Gain on sale of plant assets 28,660
Unrealized gain on available-for-sale investments 10,390
Interest expense 6,030
Loss on discontinued operations 11,260
Dividends declared and paid 5,190
Compute the following:
(a) Income from operations
(b) Net income
(c) Comprehensive income
(d) Retained earnings balance at December 31, 2017.